Top Marijuana Stocks Traded: Thursday, November 3 $97,627,369

With the election around the corner – Marijuana Stocks are Hot Hot Hot! A total of $97,627,369 traded Thursday on the top 25 cannabis tickers. The two top traded tickers, MJNA and MCOA, made up more than half of that with $47,861,543 in dollar volume between the two of them. A lot of tickers sold off, taking advantage of the end of the big marijuana election hype, but a couple stood out for another session with some exciting swing trade opportunities.

Five states — Arizona, California, Maine, Massachusetts and Nevada — have initiatives to legalize marijuana for adult recreational use. Four states — Arkansas, Florida, Montana and North Dakota — have proposed legalizing marijuana for medical purposes. All of the recreational use initiatives are currently ahead in the polls.

Twenty-five states and the District of Columbia have legalized the possession and distribution of marijuana for medical purposes, and four states — Washington, Oregon, Alaska and Colorado — have legalized adult recreational use. If November’s ballot initiatives pass in Arizona, California, Florida, Maine, Massachusetts, Montana and Nevada, these states alone will account for $2.7 billion in additional sales in 2018, growing to nearly $8 billion by 2020.